NEW YORK, March 12, 2010 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced that two new exchange traded funds (ETFs) based on NASDAQ OMX's PHLX Semiconductor SectorSM index (SOX) have been introduced today by Direxion Shares. The new ETFs are leveraged Bull and Bear index funds that seek 300% of the daily performance, or 300% of the inverse of the daily performance (before fees and expenses), of the PHLX Semiconductor Sector index, the most widely recognized index investors use to track the semiconductor industry.
"The PHLX Semiconductor Sector index provides broad exposure to an industry that is increasingly tied to the global economy," said John Jacobs, Executive Vice President, NASDAQ OMX Global Index Group. "With the launch of these ETFs, investors can now employ new investment strategies involving some of the world's most innovative companies that often drive the broader technology industry."
On March 11, the following ETFs that offer leveraged long and short exposure to the PHLX Semiconductor Sector index began trading:
- Direxion Daily Semiconductor Bull 3X Shares (SOXL)
- Direxion Daily Semiconductor Bear 3X Shares (SOXS)
"Direxion is a leader in delivering innovative investment solutions that provide magnified exposure to a spectrum of specific industry sectors, on both the long and short end," stated Dan O'Neill, Direxion Shares' President. "We are pleased to introduce our new Semiconductor 3x ETFs, which reflect our commitment to serving sophisticated investors with tactical investment tools amid changing market conditions."
The PHLX Semiconductor Sector index is a modified capitalization-weighted index composed of companies primarily involved in the design, distribution, manufacture, and sale of semiconductors. To view a complete list of component companies, visit https://indexes.nasdaqomx.com/weighting.aspx?IndexSymbol=SOX&menuIndex=0.
NASDAQ OMX is a global leader in creating and licensing strategy indexes and is home to the most widely watched indexes in the world. As a premier, full-service provider, the NASDAQ OMX Global Index Group is dedicated to designing powerful indexes that are in sync with a continually changing market environment. Utilizing its expanded coverage as a global company, NASDAQ OMX has approximately 1,400 diverse equity, commodity and fixed-income indexes in the U.S., Europe, and throughout the world.
NASDAQ OMX's calculation, design, licensing and marketing support provide the tools to measure and replicate global markets. The NASDAQ OMX Global Index Group's range of services covers the entire business process from index design to calculation and dissemination. For more information about NASDAQ OMX indexes, visit https://indexes.nasdaqomx.com/.
Access to essential historical index data for NASDAQ OMX indexes can be accessed from a single source, NASDAQ OMX Global Index Watch. For additional information, please visit https://indexes.nasdaqomx.com/indexwatch.aspx.
About NASDAQ OMX
The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with approximately 3,700 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit http://www.nasdaqomx.com">http://www.nasdaqomx.com. Please follow NASDAQ OMX on Facebook (http://www.facebook.com/pages/NASDAQ-OMX/108167527653) and Twitter (http://www.twitter.com/nasdaqomx).
Cautionary Note Regarding Forward-Looking Statements
The matters described herein may contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about NASDAQ OMX's products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX's control. These factors include, but are not limited to, factors detailed in NASDAQ OMX's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements.
PHLX Semiconductor Sector® is a registered trademark of NASDAQ OMX PHLX (which with its affiliates and subsidiaries are collectively "NASDAQ OMX") and is licensed for use by Direxion Shares. Neither the Direxion Daily Semiconductor Bull 3X Shares nor the Direxion Daily Semiconductor Bear 3X Shares has been passed on by NASDAQ OMX as to its legality or suitability, and neither product is issued, endorsed or sold by NASDAQ OMX. NASDAQ OMX makes no warranties and bears no liability with respect to either the Direxion Daily Semiconductor Bull 3X Shares or the Direxion Daily Semiconductor Bear 3X.
NDAQG